6 experts on what is changing in retail media

With growth comes change, as its success drives innovation and technological advancement. Here, members of IAB UK’s Retail Media Group discuss what’s changing in the space to help you stay informed and up to date.

What is driving the growth of retail media?

Measurement is essential

Jack Johnson (Head of Supplier Services, Ocado Retail ltd): “For me, the driving force behind the interest and development of retail media has always been and always will be measurement. If you look at any of the current trends in retail media, you will see measurement at the heart of it.

“I would cite examples such as: the use of first-party retailer data for off-site targeting, the increasing digitization of the in-store environment, and the concept of retail media attracting broader marketing budgets in the FMCG industry, as these are all made possible by RMN’s ability to measure and prove the effectiveness of existing and new spend marketing.

High-quality, privacy-focused data

Hugh Stevens (UK Managing Director, LiveRamp): “The retail media boom is not just a shift from analogue to digital, but a testament to its unique advantages. It offers a great opportunity for brands with limited first-party data, enabling them to generate insights across a broader spectrum of media spend beyond those activated through retailer properties.

“The market has abundant access to high-quality, relevant, privacy-focused data. The real challenge (and indeed opportunity) is in leveraging this data to deliver incremental-oriented insights, activations, and metrics that can drive long-term brand loyalty and sales growth.”

Retailers are taking on a different role

Rob Edwards (Head of Media and Digital at Arla Foods): “The shift in mentality, simply put, retailers are starting to act like publishers – it seems to be a shift in mindset and we now see retailers wanting to push back against both the IAB and and ISBA Calls, which will introduce transparency and coherence in the landscape.

“Many retailers now view brands as customers rather than suppliers, but this still requires greater focus as a collaborative mindset will further accelerate the impact of retail media (supported by data and measurement simplification).

“Beyond the retailer-only approach, broader media channels working together and leveraging retailer data have also added momentum to growth.”

What are the most interesting developments in retail media right now?

New participants, new strategies

Debbie Oates (Head of Customer Experience at Experian Marketing Services): “The most exciting developments in retail media today are driven by data collaboration and audience curation. While traditionally major players have dominated the market, a wave of new entrants is now emerging, expanding media opportunities for advertisers beyond existing CPG networks.

“Smaller players may face scale challenges and may not have access to a diverse set of first-party sales data. However, the focus on data activation is growing, with new players looking to expand audiences both on- and off-site by targeting across channels such as social, display and connected TV (CTV).

“Selected audiences represent a key opportunity here, enabling advertisers to fine-tune targeting based on contextual signals and develop broader consumer and demographic insights from them.”

Towards 360° shopping journeys

Tom Priestman (Chief Customer Experience Officer at Nectar360): “The next phase of retail media is incredibly exciting – moving from a focus on bottom-funnel results in brick-and-mortar environments to full-fledged, 360-degree multi-point campaigns across the entire buyer journey, from social to programmatic to digital activations in stores.

“This has traditionally been difficult to achieve, but upcoming changes, integrations and platforms mean that we are now moving beyond complex and manual solutions and focusing on a scenario where we can be more precise, unified and scalable – where brands can truly seize the opportunity in significantly drive their business results.”

Using artificial intelligence for dynamic storytelling

Luis Martinez (Head of E-Commerce at EssenceMediacom UK): “In the retail and advertising technology space, these key trends highlight the synergies between technology, retail and marketing strategies: artificial intelligence (AI) and non-endemic partnerships.

“Automation increases the efficiency of retail media and business processes, enabling professionals to focus on strategic opportunities and quickly adapt to market changes. It also leverages artificial intelligence for dynamic, responsive storytelling and brand engagement at scale in terms of content and creativity. By leveraging retail data analytics, brands outside of traditional marketplaces can target relevant audiences based on purchasing behavior, e.g., travel agencies target customers purchasing holiday-related products on Amazon.”